Al Rayyan Tourism Investment Company (ARTIC), a leading international hospitality investment company and wholly owned subsidiary of Al Faisal Holding, celebrated the official opening of Crowne Plaza Manhattan Times Square, following the completion of an extensive transformation of one of its landmark hospitality assets in New York City.
Located at 790 Seventh Avenue in the heart of Midtown Manhattan, the 22-storey property enjoys a prime location just steps from Times Square, Rockefeller Center, the Broadway Theatre District and Central Park.
The hotel features 685 guestrooms and suites with city views and has undergone an extensive transformation aimed at strengthening its position in Manhattan, one of the world’s most important and competitive hospitality markets.
The opening represents an important milestone in ARTIC’s strategy of investing in high-quality hospitality assets in leading global cities and destinations.
ARTIC said it remains focused on the continued development of its portfolio, enhancing the performance and competitiveness of its assets in support of its growth and expanding presence across international hospitality markets.
The official inauguration was attended by Sheikh Faisal bin Qassim Al Thani, Chairman of Al Faisal Holding; Sheikh Thani bin Faisal Al Thani, Board Member Al Faisal Holding; Tarek M. El Sayed, Managing Director and CEO of ARTIC; Cyril Mouawad, Chief Operating Officer; Gregory Polino, Head of Asset Management – US; and Mohamed El Sayed, Deputy Head of Asset Management – US.
They were joined by members of the IHG Hotels & Resorts leadership team including Jolyon Bulley, the CEO of Americas; Colin McDonald, Managing Director and SVP, Peter Clarke, Vice President, Franchise Operations Americas in addition to Highgate, The Hotel operator, Mahmood Khimji Co-Founder and Chairman, Arash Azarbarizan Principle and CEO, alongside senior representatives from ARTIC, IHG Hotels & Resorts and Highgate, as well as invited guests.
Speaking at the opening, Sheikh Faisal said: "Since the company’s establishment, our vision has been clear; to build a diversified portfolio of distinguished hospitality assets in some of the world’s most important destinations, while expanding our presence thoughtfully in markets where we see attractive opportunities for growth."
"Over more than two decades, I am proud of what the company has achieved and of the strong base of investments and distinguished assets it has built, evolving from a company that began in Qatar into a global company with a strong presence, reputation and credibility across some of the world’s leading hospitality markets. I believe this journey also reflects the ability of Qatar’s private sector companies to grow, expand and compete successfully in international markets," he stated.
